The Determinants of Economic Well-being:An Application in the Indian States
AbstractThe purpose of this paper is to explore the determinants of economic well-being. We provide a methodology to compute well-being by aggregating different socio-economic dimensions with factor analysis technique. We also estimate quality of good governance (using latent variable approach) and a financial decentralisation index. Panel data is employed to explore if better quality of institutional arrangements (of governance and more financial decentralisation) lead to better outcome in the economic well-being index. The evidence shows a strong positive link ( from using data of 16 major Indian states over four points of time (1970s to 1997-latest)).
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Bibliographic InfoPaper provided by EconWPA in its series Development and Comp Systems with number 0509009.
Length: 34 pages
Date of creation: 08 Sep 2005
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Economic Well-being; Governance; Decentralisation; Panel data; India;
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-09-17 (All new papers)
- NEP-CWA-2005-09-17 (Central & Western Asia)
- NEP-GEO-2005-09-17 (Economic Geography)
- NEP-SOC-2005-09-17 (Social Norms & Social Capital)
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